• Loading stock data...
Saturday, March 2, 2024

JD Sports Buys 80% Stake in Cosmos Sports

JD Sports/Design: Alex Brooks

Last month, JD Sports reported a record $505.9 million in pre-tax profit for the first half of the year. Now, the sports retailer has acquired an 80% stake in Greece-based Cosmos Sports.

With 57 stores in Greece and three in Cyprus under a mix of retail banners, Cosmos will boost JD’s footprint, adding to the more than 3,300 stores JD Sports already has worldwide.

EOS Capital Partners sold the 30% stake that it acquired two years ago and founder Fragiskos Tsiknakis’ family lowered their stake from 70%. Cosmos recorded $60.5 million in revenue last year.

Cosmos is just one of JD Sports’ many acquisitions in the past year.

  • The British retailer purchased an 80% stake in Barcelona-based online sports retailer Deporvillage.
  • It bought a 60% stake in Polish sports fashion business Marketing Investment Group.
  • It acquired California-based Shoe Palace for $325 million and Baltimore-based retailer DTLR Villa for $495 million.
  • It also purchased Manchester-based clothing retailer Oi Polloi.

JD Sports is interested in acquiring U.K.-based e-commerce retailer Missguided, too. It may, however, be required to sell Footasylum — which it bought for $124 million in 2019 — following concerns from the United Kingdom’s Competition and Markets Authority.

The company expects full-year earnings to more than double.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Sponsored

How Daily Fantasy Sports Solved NBA Fantasy

New Horizons in Sports How Daily Fantasy Sports Solved NBA Fantasy Presented…
Sponsored

Live Sports Are Now High-Tech Experiences

Oracle is leading the technology revolution happening in stadiums across the world.
Sponsored

NASCAR Capitalizes on the Sportswear Boom in a New Deal With ’47

With the new partnership between ’47 and NASCAR, racing fans can express their love like never before.
Sponsored

How Cisco and the NFL Are Shaping a More Inclusive Future

The NFL and Cisco partner to launch the NFL IT Apprenticeship Program.
podcast thumbnail mobile
Front Office Sports Today

Jenny Cavnar is Breaking Barriers During Oakland’s Strange Season

0:00
0:00

Featured Today

Sheer Madness: What You Need to Know About MLB’s New Uniform Saga

MLB’s reworked uniforms have become a major source of spring training controversy.
Oct 5, 2021; Kansas City, Missouri, USA; Bob Kendrick, president of the Negro Leagues Baseball Museum in Kansas City, points to the lettering outside of the museum Tuesday.
February 28, 2024

How Do You Keep Negro Leagues Baseball History Alive? Put It in a Video Game

Negro Leagues Baseball Museum attracting increased donations, visits from ‘MLB The Show.’
February 26, 2024

The Victor Wembanyama Rookie Card Market Hasn’t Matched His Hype

A cooling market and Fanatics autograph deal leaves big-money collectors waiting.
February 25, 2024

Sham Gods: The Rapidly Growing World of Sports Impersonators on X

Fake Schefters and Wojs, fabricated trade demands, and borrowed profile pictures.

Careers

Powered By

Careers in Sports

Looking for a new job? Check out these featured listings and search for openings all over the world.
Spotify
Multiple - USA Careers
Nike
Multiple - USA Careers
EA
Multiple - USA Careers

Caitlin Clark Passes Shedeur Sanders to Top Fanatics’ NIL-Era Sales

The Iowa guard took the spot hours after her record-breaking game against Michigan on Thursday.
December 4, 2023

How the $1B Golf Ball Industry Might Add a Few Strokes To Your Game

A distance roll back is set to be coming to golf balls.
December 21, 2023

Nike Loses Jokić, but Posts Earnings, Income Increases

Denver Nuggets superstar embraces upstart Chinese brand 361 Degrees.
Sponsored

How LivePass is Redefining Ticketing for the Next Generation of Fans

The next wave of ticketing technology.
November 25, 2023

Sports Apparel Giants Looking For Holiday Season Turnaround

Once-surging category enters the critical selling period mired in a slump.
November 21, 2023

Upbeat Dick’s Earnings Counter Slowdown In Sports Apparel Market

Surprise earnings beat contrasts from other recent results in the category.
November 20, 2023

Messi Set To Challenge For Another Off-Pitch Record

Messi’s World Cup jerseys are headed for auction.
October 12, 2023

Liverpool Facing Further Stadium Delays Amid Shifting Financial Future

Liverpool is expanding its stadium capacity to 61,000.